General obligation bonds were issued to finance a particular governmental capital project fund. This resource, in the context of its impact on fund balance, would be classified as

Question

Quizplus · Accepted Answer

General obligation bonds are issued with restrictions that they can only be used for a specific capital project. Therefore, the resource is restricted and cannot be used for other purposes, but it is still available for spending. It is not nonspendable, as it can be spent on the designated project. It is not committed or assigned since the government has the discretion to decide on the timing and extent of the use of these funds.

General Obligation Bonds Were Issued to Finance a Particular Governmental